It is a considerable turnaround for the Florida market, which saw home prices drop nearly 27 per cent from April 2007 to April 2008, with the Miami market in particular being hit harder than any other major real estate market in the nation, according to the S&P Case-Shiller 20-city Home Price Index.
For players looking to position themselves to optimize the opportunities, one corporately-owned and operated national brokerage has relocated its Boca Raton office to the city’s downtown to better serve the rapidly growing Florida market.
“Downtown Boca is undergoing a surge in growth and fulfilling its promise to become a metropolitan destination, which speaks in volumes in terms of new residential opportunities for both local area residents and real estate agents alike,” said Jordana Tobel, the local market office leader with Carrington. “We look forward to continuing to serve the real estate community of East Boca with our experienced agents and direct exposure to the planning and development of the downtown area.”
The Carrington Companies own and operate multiple businesses that cover virtually every aspect of single family residential real estate transactions through investments in U.S. real estate and international mortgage markets, loan origination and servicing, asset management and property preservation, real estate brokerage, title and escrow services.
With over 60 real estate agents, Carrington’s new office in East Boca, looks to build upon its reputation as a top producing office for the national brokerage, says Tobel, adding that the new office location in Boca Raton allows the company to widen its strategic reach in top markets across South Florida, complementing the existing offices in Miami, Tampa, Naples and Palm Coast.
Once a graveyard of empty homes and condo units following the collapse of the stock market in 2008, the Florida housing market has finally found its legs and is running full tilt – and that has mortgage lenders and investors smiling.